ebay managed payments - anyone using this future mandatory service yet?

[KCRfan1]

After recently selling a card on ebay, I am still waiting for funds to be posted to Wells Fargo ( hate them ). Day 3 will be Wednesday.....

Anyways, Paypal always showed immediately and now I wait on a bank.

As the seller, do I send a sold card not having money in my bank account?

Or do I send the card and hope WF posts the money at some point?

Ebay shows they forwarded the funds to my bank.

Thoughts? Any similar experiences? Positive outcomes?

[thecomebacker]

I was the buyer in your case. The seller messaged me saying that he is new with this ebay payment management thing and told me he would send my card as soon as money shows up in his bank account. I was understanding and told him it was fine. Took like 5 days before money cleared, but he did ship right away after clearing. If you plan on not shipping until payment clears, at least message the buyer to let him know.

Originally Posted by KCRfan1

After recently selling a card on ebay, I am still waiting for funds to be posted to Wells Fargo ( hate them ). Day 3 will be Wednesday.....

Anyways, Paypal always showed immediately and now I wait on a bank.

As the seller, do I send a sold card not having money in my bank account?

Or do I send the card and hope WF posts the money at some point?

Ebay shows they forwarded the funds to my bank.

Thoughts? Any similar experiences? Positive outcomes?

[earlywynnfan]

That really stinks if you're trying to be an ebay Top Seller, since you have to ship within 24 hours of getting paid. Does "paid" mean hit the bank or when the seller hits the "pay" button??

I guess I'm lucky, the money hits my bank the next day. I've always ship when the item is listed as "paid."

[conor912]

Originally Posted by KCRfan1

As the seller, do I send a sold card not having money in my bank account?

Ebay wants you to, yes. Their whole thing is “the buyer paid, so we’re good for it - you’ll see your money in 4-5 days, but we expect you to ship now”. It’s absurd and was the final nail in the coffin for me. They have completely ruined the selling experience now from every angle.

[Snapolit1]

Originally Posted by conor912

Ebay wants you to, yes. Their whole thing is “the buyer paid, so we’re good for it - you’ll see your money in 4-5 days, but we expect you to ship now”. It’s absurd and was the final nail in the coffin for me. They have completely ruined the selling experience now from every angle.

You can choose to get paid every day of the week. Don't need to wait 4-5 days. Usually one day.

[Exhibitman]

I actually switched to 1x/week payouts. I time my auctions to close over the weekend (Fri-Sat-Sun), I ship on Mondays. Plus there are the odd BINs here and there. It became a PITA to have money sent every day because it left me without a means of paying the postage from the proceeds of a mid-week, Friday or Saturday sale and eBay kept hitting my CC for it.

[KCRfan1]

Thank you everyone! I appreciate the insight and candor.

[thecatspajamas]

Originally Posted by Snapolit1

You can choose to get paid every day of the week. Don't need to wait 4-5 days. Usually one day.

Just to be clear, the timeframes I listed above were for daily payouts. There is always a lag of at least 2 days between when a sale occurs and when eBay sends the payout to your bank account (longer if the 2nd day falls on a weekend), and in my case, the funds show in my bank account the following day after eBay sends them. While I do get payouts sent to me every business day, they are not for the preceding day's sales. They are consistent enough that I am comfortable going ahead and sending items out once eBay indicates they have received payment, though that does technically mean that I am floating the shipping cost and sending merch for which the funds have not yet cleared in my account. Your comfort level with that may vary, but you would need to adjust your "handling time" accordingly, as eBay starts the clock from the time they receive payment, not from when they funds have cleared your bank account.

I don't use eBay to print shipping labels, but if you do, the weekly payout may make more sense for the reason Adam mentioned. While I have had eBay hold funds in some occasions due to buyer disputes or postal delays, I have not yet had a shortfall such that they went into my bank account to pull funds to cover those. I can see how that would be problematic if it were happening on a regular basis to cover shipping costs. Personally, I have found eBay's tendency to erase records of darn near everything after 90 days troublesome enough that I use stamps.com for printing shipping labels in order to have those shipping records available and searchable for a longer timeframe, but your needs may vary.

[ibuysportsephemera]

I've been using managed payments for awhile and it has been fine. I use the sales proceeds for shipping costs so I am set up for weekly payments. It has been fine so far.


Jeff

[D. Bergin]

Originally Posted by thecatspajamas

I don't use eBay to print shipping labels, but if you do, the weekly payout may make more sense for the reason Adam mentioned. While I have had eBay hold funds in some occasions due to buyer disputes or postal delays, I have not yet had a shortfall such that they went into my bank account to pull funds to cover those. I can see how that would be problematic if it were happening on a regular basis to cover shipping costs. Personally, I have found eBay's tendency to erase records of darn near everything after 90 days troublesome enough that I use stamps.com for printing shipping labels in order to have those shipping records available and searchable for a longer timeframe, but your needs may vary.

Wish I could still use Stamps.com to print my Ebay shipping labels, because it saves time printing multiple labels, but it absolutely refuses to import my Ebay orders, no matter how many times I delete and reinstall my Ebay info to their program..........and manually putting that info in, completely defeats the purpose of the tool.

As is, I'm also reliant on payouts being due to my account to pay my shipping costs, but I generally ship quick enough that it isn't an issue. Also still have my Paypal account as a backup, in case that is an issue.

[thecatspajamas]

Originally Posted by KCRfan1

After recently selling a card on ebay, I am still waiting for funds to be posted to Wells Fargo ( hate them ). Day 3 will be Wednesday.....

Anyways, Paypal always showed immediately and now I wait on a bank.

As the seller, do I send a sold card not having money in my bank account?

Or do I send the card and hope WF posts the money at some point?

Ebay shows they forwarded the funds to my bank.

Thoughts? Any similar experiences? Positive outcomes?

Sounds like standard procedure for Managed Payments. I've been in it for several months, and once eBay showed that they had sent the payout to my bank, never had any instances of it not showing up in my bank account or show up as a different amount than the reported payout.

Funds from any given sale of an item are in my bank account in 3-5 days from the date the buyer pays. Because eBay does not send payouts on the weekend, it works out as follows:

Item Sold / Funds in Bank
Monday / following Thursday
Tuesday / following Friday
Wednesday / following Monday
Thursday / following Tuesday
Friday / following Wednesday
Saturday / following Wednesday
Sunday / following Wednesday

[forceplay sport]

Just curious if anyone has sold on sportlots ??